Subscribe to our newsletter to receive your weekly dose of inspiration and stay abreast of the latest hot-to-market properties.

Subscribe Now
Background Image
Home is Where the Heart is
Create Your Own Calm
Make Space for What Matters
Dream Big
Find Wonder
Live Simply
Give Thanks
Be Kind to Yourself
Today You Will Thrive
Start Each Day with a Grateful Heart
Find Joy in the Ordinary
Create the Life You Want
Follow Your Heart & Intuition
Be Here, Now
Disconnect to Reconnect
Seek Joy
Enjoy the Little Things
What You Do Makes a Difference
Your Focus Determines Your Reality
Let Go of the Things You Cannot Change

Hong Kong Property Market Policy Address 2023

Nest Property

Following Chief Executive John Lee Ka-chiu’s second policy address, the anticipated updates in the property market appear promising, albeit not as extensive as some had hoped. From housing affordability initiatives to development plans, these key takeaways are set to reshape the city’s real estate landscape.

01. Stamp Duties

A 10% SSD will apply exclusively to property resales after two years, which is a reduction from the previous three-year threshold.

Reduced BSD to 7.5 percent from 15 percent for non-permanent residents and residents acquiring a second or additional home.

Overseas talent are exempt from property stamp duty payments unless they do not meet the criteria for permanent residency.

Who can qualify for this under the the Top Talent Pass Scheme (TTPS)?

Category A:

  • Individuals with an annual income of HK$2.5 million or more in the preceding year, derived from taxable employment or business income (excludes income from personal investments).

Category B:

  • Graduates from eligible universities with a degree.
  • At least three years of work experience in the five years preceding the application.

Category C:

  • Graduates from eligible universities with a degree.
  • Less than three years of work experience.
  • Availability of a limited annual quota.
  • Not applicable to non-local students who earned their undergraduate degree in a full-time and locally-accredited program in the Hong Kong Special Administrative Region (HKSAR).

    For more information on this please visit the Immigration Department’s website.

02. Green Belt

There shall be no development on the Green Belt.

03. Kau Yi Chau Artificial Islands

Will be developed as a new central district, connecting Hong Kong Island, Lantau Island, the airport, New Territories West and Qianhai of Shenzhen.

04. The Northern Metropolis Plan

Will prioritise economic and social development through strategic initiatives, including reserving sites for international schools development.

For more info or assistance in buying or selling your property, please contact us at [email protected]